NEW YORK, April 15, 2024 – Proskauer, a leading international law firm, today announced that it advised Hudson Structured Capital Management Ltd. – conducting its insurance business as HSCM Bermuda ("HSCM") – on the successful closing of its continuation fund, HS Mohawk Fund I LP (the "Fund"), with more than $175 million of capital commitments. The lead investor in the Fund was StepStone Group Inc. ("StepStone") with additional commitments from existing HSCM investors.
The Fund was established to acquire interests in five asset-intensive life insurance investments (the "Portfolio Assets") held by HSCM Bermuda Fund Ltd., HSCM's multi-sector re/insurance fund (the "Bermuda Fund"). The acquired interests will support the Portfolio Assets' continued growth while offering existing Bermuda Fund investors an option for near-term liquidity.
The Proskauer team advising HSCM included partners Chris Robinson and Jeremy Naylor and associates Corey Dietrich, Joseph Salvatore, Jamison Chung and Benjamin Swiszcz (Private Funds); and partners Kunal Dogra and Michael Ellis, and associates Lauren Kim, Jacob Weinberg and Joshua Spector (M&A).
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